Big Yellow, the self-storage property company, has raised £33m through a placement of shares alongside preparations by other property companies to raise money as part of opportunistic strategies to take advantage of the depressed market.

Big Yellow’s raising came as Great Portland Estates prepared to reveal today a £150m rights issue, positioned as an aggressive move to expand its estate. Shaftesbury, another specialist in London real estate, yesterday said it was also considering raising capital.

All three groups aim to exploit opportunities in the depressed commercial property market, rather than tapping investors for cash in order to pay down debt levels.

The property sector has raised more than £3bn in rights issue over the past few months, but it has almost all been earmarked to support balance sheets straining under the rapid fall in asset values.

Financial Times, Daily Telegraph